Continuing a chain of issued warnings against illicit brokers in Canada, the Ontario Securities Commission (OSC) slaps Binary Options Broker B4Binary with a warning.
2 November, AtoZForex – The OSC issues warnings against unlicensed companies that target traders in Canada putting at risk clients' trading activities. The OSC has clearly explained that B4Binary runs its website without being authorized to operate in Ontario.
Who runs Binary Options Broker B4Binary?
Broker B4Binary is owned and operated by Service Global 52 Ltd. Furthermore, the illegal brokerage claims that SG 55 Ltd. provides it with payment processing services. Yesterday, the Ontario regulator alerted investors against both of the companies, by issuing two separate warnings.
In addition, the OSC stated that Service Global 52 Ltd. is not registered with the regulator to provide trading in securities or advise someone regarding investments in securities.
OSC warning against Apex One Trading Group and CFD Capital Markets
Earlier in October, the Ontario watchdog warned investors against two unregistered brokerages Apex One Trading Group and CFD Capital Markets, adding them to the alert list. Both entities state that they provide trading on a wide range of financial instruments including foreign exchange, foreign exchange options, and CFDs. But none of them is authorised by the Canadian regulator. Interestingly to note, while browsing through the websites of both blacklisted brokers one can spot that they have the similar structure and identical content. However, there is no official information regarding the connection between two companies. Therefore, the OSC advises investors to be cautious and refrain from using services of these entities.
Have you double checked your broker?
As a trader, to make sure you are on the safe side you should always check lists that include authorised and unauthorised brokers before investing your funds with any broker. In order to prevent from being scammed by a brokerage, traders should always deal with well-trusted entities that are authorised and regulated by a respectable regulatory authority.
Furthermore, you can check the list of AtoZ Approved Forex Brokers which have been tested by AtoZForex's team of experts. Some of the aspects examined included regulation, withdrawal procedures, execution and compliance.
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